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Yunnan Jinggu Forestry receives funds from debt transfer deal

June 30, 2025 at 12:32 PM UTCBy FilingReader AI

Yunnan Jinggu Forestry (SSE:600265) announced it has received full payment from Zhou Dafu Investment Limited, its controlling shareholder, related to a debt transfer agreement. The agreement involved the transfer of CNY 14,186.92 thousand in compensation receivables related to a prior acquisition deal. The initial acquisition in February 2023 saw Jinggu Forestry acquire 51% of Tangxian Huinyin Wood Industry for CNY 27,030.00 thousand, contingent on a profit forecast. Because Huinyin Wood Industry did not meet performance targets for 2024, it triggered a compensation clause payable to Jinggu Forestry. To mitigate collection risk, Jinggu Forestry transferred the debt to Zhou Dafu Investment, further outlining details on a related party transaction. The company engaged an accounting firm and has already made appropriate adjustments in its accounting policies, and there are no changes anticipated.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SSE:600265Shanghai Stock Exchange
Forestry

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